I like the idea of having PSK items attached to your person, but I have never been fond of the Altoid tin type kit. They are just to small to store any real Gear. One system I have used in the past and you might consider is using a spare container for your kit. Something along the lines of a 40oz widemouth kleen canteen will hold a good bit of gear, and you can boil water in it. You can attach it to the bottom of your vest with a carabiner, and let it ride in the floor of your Kayak.
I still do this when hunting. I have one bottle with water or gatorade, and the other is stuffed with cordage, small (2nd) compass -, fire kit, fist aid, bandana, AMK heat sheet (unrapped and stuffed to keep everything from rattling), Aquamira tabs, the list goes, etc. Just thought I would share.

Watch that Inova squeeze light. Not sure if you've used it long but I hated mine. After a while it would get knocked on at the slighted bump and burn out the batteries. Not something you want to happen to your emergency light.

Mark - up till recently nor was I. I just needed a solution for the vest and I had the tins laying around. They are actually tins from a Boker knife gift set. I just pulled out the foam insert. The 40 oz bottle won't fit in my vest and that was the whole point of making the PSK tins.(to get them inside the mesh pockets) If I get seperated from my kayak (it's happened before) I at least have something on me I can use. I would be worried that if I went in the drink I may be tangled up in the lines of anything attached to my vest by a cord. I suppose I got enough other stuff to tangle up in so one more wouldn't hurt. Solid idea though.

I just upgraded to a "sit on" kayak vs the "sit in" types. As I paddle alone self recovery is soooooooo much easier in the sit on type. The self draining feature is excellent. I am less likely to tangle in things if I do dump over. The dissadvantage is that everything on the deck gets soaked. I just got back from a 2 day trip and most.....wait...ALL of the gear not in Pelican cases was soaked. I haven't checked the PSK yet. It may be soaked as well. If so I guess I am back to looking for a solution.

BPJack - yeah, like I mentioned above I alreay pulled those out and just stuck with pinning something more reliable to the outside of the vest. I upgraded from a Pelican L1 to a Fenix.(don't recall which off the cuff) but its the 100ish lumen single AA waterproof type. So far it has lived up to it's hype because the Ottawa river drenched me for two days and it still lights up.

Sorry Stephen. I missed that update. My apologies. I like little keychain sized lights in my psk, and the price on those inovas is pretty good. You just need to be aware of their shortcomings and keep an eye on them. Better is better though so kudos on the upgrade!

Ouch! I put one of the inovas on all my kids backpacks until I realized a similar problem and quickly got rid of them and replaced them with photons. More expensive but safer and more durable.